Have any friends or family that have any unwanted gold items? Broken earrings or loose chains? Many of these people will simply give you their gold because they don’t have anything else to do with it, or they’re not sure what to do with broken gold. Our online gold buyers are here to help you understand more about scrap gold and what to do with it.

What is Scrap Gold?

Scrap gold is the term used to describe unwanted or broken pieces of gold that may come from rings, pins, broaches, necklaces, and even dental work. This is usually gold that has been discarded and now is suitable for reprocessing and refining. It is recycled and melted down to be reprocessed and manufactured into something new. The purity of the gold and the weight can all determine how your gold will be reprocessed later and sold for a profit.

Selling Scrap Gold

Now that you know how scrap gold is processed and where you can find scrap gold, there are two main places you can make a profit to sell your scrap gold: refiners and dealers.

Refiners are companies that will give you cash for gold, they will offer to buy your scrap and unwanted gold and give you the cash in return. A dealer is the middleman between this process, they still sell and buy your gold, but they often charge fees before getting your gold to a refiner.

If you want to make a profit off of scrap gold, look for a good company that has a scrap gold calculator and is trusted. Here at Goldfellow, we are the online gold buyers who take selling and buying gold seriously, contact us to learn more and trust in us to give you the best price guaranteed.